On Thursday however I made this remark: Still Silly
The speculative indices are still flying high, and until they start to stall everything else will continue to melt up in the low volume Silly Season.
We that was certainly true today!! The Russell and the Nasdaq led the way down from the early peak today and have much uglier looking candles than the SPX and Dow.
The divergences on the 60 minute chart are very pronounced. Looks like the fractal might indeed be playing out:
